We are living at a time when transitions are so swift sometimes we can barely see them happening. One interesting new one, reported in this Financial Times article (ht: Catherine), is that representatives of Fatah, Yasir Arafat’s own organization, are looking for the late Caudillo’s stolen fortune in aid money in order to fight off the Islamist challenge in their territories. The FT is going through this in detail. Good for them.
In a two-part investigation starting on Monday, the Financial Times describes murky financial dealings by Arafat over more than 25 years, designed to give him sole control of resources raised by the various organisations he led. Information about this money was scattered so no one person knew the whole story.
Palestinian officials trying to unravel the mystery are seeking the many notebooks in which Arafat, who died in November, is known to have recorded important details of his political and financial life.
Organisations controlled by Arafat raised billions of dollars over recent decades, but much was spent or squandered in corruption and bad investments. Nonetheless, some officials in these organisations think assets worth several hundred million dollars may not be accounted for.
They could ask Suha, of course, but that piece of work is so greedy she wouldn’t part with a Euro she could use on room service at the Hotel Bristol. I have another suggestion. Why don’t some of those Swiss bankers or whoever is holding this blood money cough some of it up voluntarily? It would be an amazing gesture–imagine… aid money going to the people for whom it was originally intended.
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8 Comments
1. lawhawk:Methinks one has to search out where the horrible Red Binder is in order to determine where all the money went. It is the only logical conclusion.
Feb 7, 2005 - 8:55 am 2. jille:Roger
One of those Swiss banks was bragging in ads about how they had Yassar Arafat as a client. See http://www.estatevaults.com/bol/archives/000170.html.
I hope they can “encouraged” to give some of the stolen money back.
Feb 7, 2005 - 9:00 am 3. Rick Ballard:“Why don’t some of those Swiss bankers or whoever is holding this blood money cough some of it up voluntarily?”
Stony lonesome in Switzerland may be better than prison accomodations elsewhere but I doubt any Swiss bankers aspire to putting that proposition to the test. The Swiss have become more amenable toward disclosure of information when a presumption of illegality is soundly asserted but simple (if massive) political corruption does not rise to the necessary level of criminality. No Swiss banker will be coming forward voluntarily. Aside from breaking Swiss banking laws, his life would be forfeit – if not to the current PA thugs, then to other terrorist organizations and corrupt governments who also rely on the security of Swiss silence.
I hope that the FT is able to do a good job on exposing the depth of corruption and criminality that was (and is) the PLO/PA but if the current leadership get their hands on the loot I would not place a dime bet on a penny of it reaching the “people”.
Feb 7, 2005 - 9:04 am 4. jedrury:Rick is right.
I love a good money scandal as much as anyone,
but the money hunters in this case are murderers and thugs.
Money like this has a way of creeping up, out and into the economy of either Switzerland or Europe or the Middle East.
Where is the morality play here? This is not a Robin Hood story.
Feb 7, 2005 - 9:18 am 5. Roger:No, of course it’s not a Robin Hood story, just a part of the ongoing dialectical game. But if any progress is to be made, such a step must be made.
Feb 7, 2005 - 9:23 am 6. PJ:Lawhawk, you beat me to it, LOL! Of course it’s all in the mysterious Red Binder!
Feb 7, 2005 - 9:28 am 7. Terrye:For the life of me I do not know how the Palestinian people can look at Arafat’s better half living in Paris and shopping with the wives of oil sheiks without feeling just an itsy bit pissed.
Feb 7, 2005 - 12:09 pm 8. jedrury:I agree, Roger, this is an essential part of the dialectical game played. Good point.
I am offended that the West has been complicit
in this fraud by surely and knowingly paying this blood money for realpolitik reasons with little return considering the intifada.
I am offended that no justice was meted out against this killer during his lifetime, his murderous PLO crew and his greedy sluttish Western wife.
The Fatah money hunters are no better than the rest.
Disclosure/outrage/change are only ends to be sought.
Feb 7, 2005 - 12:11 pm